Many supermarkets are selling more and more products that are imported from other countries instead of selling food that is locally sourced. What are the reasons for this? Is thus a positive or negative development?
With the growing
trade
connections around the world, several supermarkets are increasingly selling imported goods
as opposed to locally sourced products
. This
essay will discuss the reasons for this
and explain why it is a negative trend
.
There are three reasons that explain the rise in this
trend
over the past years. Firstly
, due to the growing competition, stores are expected to offer a wide range of products
to the consumers, which can be accomplished through trade
. Secondly
, in order to maintain geopolitical relations, countries often import and export products
from other countries. Thirdly
, the inability to grow certain goods
, force the businesses to purchase them from the countries that have favourable conditions to grow the required produce. For example
, UAE often imports fresh coconut water from India, as the weather conditions in the UAE do not support the growth of coconut trees.
Like everything on this
planet, this
development has its pros and cons. However
, the negatives outweigh the positives in this
case. As a result
of high excise duty, supermarkets sell these products
at unreasonably high prices as compared to the cost price. Further
, this
development negatively impacts the growth of the locally based companies, thereby impacting the economy of the country. Additionally
, this
trend
comes with an increased dependence on trade
, making any country insufficient during a recession or a pandemic like COVID-19. For instance
, several supermarkets around the world faced a shortage of imported goods
for at least 6 months during the initial phase of the pandemic.
In conclusion, business owners indulge in the import and export of products
to offer competitive goods
, maintain international relationships and get all-year-round produce. However
, entrepreneurs need to consider the impact of increasing trade
before expediting this
trend
.Submitted by yuktamuthreja on
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